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Scaling the Rail: Overcoming High False Positives in a Global Investment Engine
DriveWealth’s explosive growth from 3 million to 15 million accounts stretched their legacy compliance systems to the breaking point. As a global investment rail, the company struggled with shifting transaction patterns that triggered a flood of false-positive alerts. Without a dedicated case manager, the small five-person compliance team was forced to manage investigations via shared files, spending several hours on each SAR filing. This manual burden severely impacted productivity and prevented the team from focusing on deep-dive investigations, creating a critical need for a hands-on solution that could scale without requiring a massive increase in headcount or engineering resources.
- Hyper-Growth Strains: Account volume quintupled in three years, rendering manual processes obsolete.
- Inefficient Alerting: High false-positive rates were "casting a wide net" and wasting analyst time.
- Operational Gridlock: SAR filing was a multi-hour manual task managed through disorganized shared files.
- Resource Constraints: Needed a "hands-on" solution that didn't require building out massive internal IT or risk analytics teams.
Precision Compliance: No-Code Automation for Targeted Risk Management
DriveWealth chose Unit21 for its versatile, no-code natural language interface, which allowed the compliance team to customize transaction monitoring rules to their specific business needs. The platform’s ability to run rules in "shadow mode" was a decisive factor, enabling the team to validate logic and ensure accuracy before deployment—all without relying on engineering support. This flexibility extended beyond traditional AML; DriveWealth was able to configure the tool to ingest any data type, allowing them to detect and block fraudulent activity that their previous systems missed.
- No-Code Interface: Empowers the AML team to customize processes and automation using natural language.
- Shadow Mode Validation: Ability to test and refine rules before they go live, ensuring high-fidelity alerting.
- Data Versatility: Capable of monitoring any data type, allowing for creative applications in both AML and fraud detection.
- Headcount Efficiency: Designed to properly manage risk and scale operations without the need for additional hiring.
“Unit21 was head-and-shoulders above any of the solutions we looked at. The ability to use the no-code natural language interface to customize processes and automation to our business needs has been a big win.”
66% Faster Filings and 10x More Fraud Detection: A Productivity Revolution
Since partnering with Unit21, DriveWealth has seen a dramatic shift in its operational efficiency and risk posture. SAR filing times have been slashed by 66%, and the "alert to SAR" ratio has doubled, proving that the team is now focused on high-quality leads. The most striking impact was a 10x increase in account closures due to fraud, with over 1,000 fraudulent accounts identified and shuttered in a single year. By transitioning from a reactive to a forward-looking strategy, DriveWealth has increased its total SAR filings by 300%, ensuring robust compliance as they continue to empower global investors.
- Drastic Time Savings: SAR filing is 66% faster, freeing up analysts for higher-value investigation work.
- Superior Accuracy: 30% reduction in false positives and a 2x increase in the "alert to SAR" conversion rate.
- Fraud Suppression: Achieved a 10x increase in fraudulent account closures compared to the prior year.
- Regulatory Rigor: Increased the volume of filed SARs by 300% through improved team productivity and visibility.
“With Unit21, we are looking at things that actually present risk to our business instead of casting a wide net over everything and hoping to catch something.”